Principle Lesson 7 - Lesson 7 Cumulative Quiz 1. If the...

Lesson 7 Cumulative Quiz 1. If the full legal description of a property is too long to fit on the purchase agreement form, the agent should: C. attach a separate sheet with the full description (?) 2. If the optionee fails to exercise the option within the specified time: B. the option expires automatically 3. A seller signs an open listing agreement with Broker A, and then immediately signs another open listing agreement with Broker B. If the property is sold before either listing expires, and Broker B is the procuring cause of the sale: B. Broker A will not be compensated for her efforts 4. A written extension agreement between buyer and seller serves to: B. defer the closing date 5. If a landlord constructively evicts a tenant, this terminates the lease through: D. breach of the implied covenant of quiet enjoyment 6. A broker's commission is usually: C. a percentage of the property's sales price 7. If a purchase agreement provides that time is of the essence: A. timely performance is considered an essential term of the agreement

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